Fernwood Park – SOLD

Fayetteville, GA

Located in Fayetteville, GA, Fernwood Park is a manufactured home community that underwent a complete transformation under Forrest Street Partners’ ownership. FSP acquired the park three years ago at 25% occupancy with a 1-star rating and annual revenues below $100,000. During the hold, FSP demolished 35 condemned homes, paved the entire park and added parking pads, upgraded the private wastewater treatment plant and wells, installed Metron water meters, and added fiber internet and street lighting. FSP also added a basketball court, pavilion, playground, and green space, significantly improving the community’s curb appeal and quality of life for residents.

In total, FSP brought in 61 new homes, taking the park from 25% to 95% occupancy and growing annual revenues to well over $1 million. At disposition, Fernwood Park had earned a 4-star rating, reflecting the strength of the turnaround. The value-add investment delivered a 63% deal level IRR before FSP exited the property in 2026.

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